Business

How a conflict between Ukraine and Russia can affect business in Europe

Currently, tension is growing on the border of Ukraine and Russia. Whether or not it will develop into a military confrontation, the situation is likely to affect economy in Europe and around the world. Even if inflation does not skyrocket, already existing trends might accelerate. Russia is vast, and it is a major provider of …

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Hungarian SMEs will not be affected by the global minimum tax

The OECD is introducing a global minimum tax at 15% starting from 2023. The tax will only affect companies with a global revenue above EUR 750 million.

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Debt collection in Hungary: the full picture

When doing business, you expect your partners to pay for your services, or provide the products you have paid for on time. However, sometimes life happens, and your company ends up with debts owed to it. Learn the techniques to mitigate risks and advance debt collection – or reduce the damage caused by irrecoverable claims. …

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Client Gate and Company Gate: the customer portals for e-administration

In the 21st century, you rightly expect administration to be available online as well as in person. And it is! Hungary has customer portals operated by the government that give you access to electronic administration – both as an individual and as the manager of a Hungarian company. Learn about them with us. Electronic administration …

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Price cap for basic foods introduced in Hungary for three months

Last updated on 28 January 2022. Because of the soaring inflation, Hungary has announced the introduction of a price cap for a handful of basic foods. The price control will be in force starting from 1 February 2022, and will remain in place for 3 months. You can find the official decree here. Price of …

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New Year’s resolutions for your Hungarian company

January is the season for New Year’s resolutions. But can that be applied to accounting and company management? Of course it can! We have compiled a list of handy tips that can make your business life easier in 2022. Have your paperwork ready for inspection The Tax Authority may inspect your paperwork anytime. Make sure …

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Personal income tax waived for those under 25 in Hungary

Starting from 2022, people under 25 do not pay personal income tax in Hungary. The new regulation aims at making the employment of young people more attractive to employers, while giving young people a boost in getting independent and starting their own life. Personal income tax benefit of young people from 2022 Under the new …

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Foreign business in Hungary in 2021

Hungary is the ideal place if you want to set up your business in the EU. Advanced infrastructure, central location, and favorable taxation options make Hungary a friendly business environment, and many foreigners move here with their family so they can build a new life in the EU. Foreigners in Hungary Currently, more than 350,000 …

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KATA and flat-rate taxation in Hungary in 2022

Last updated on 21 December 2021. In Hungary, many favorable taxation options are available to small companies and entrepreneurs, depending on the size and type of their business. KATA and flat-rate taxation are both structures that were created to reduce administration – and both will change starting from 2022. KATA KATA is short for Itemized …

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Bank holidays in 2022 Hungary

If you operate a business in Hungary, you should be aware of bank holidays, when employees are not required to work normal working hours, and customers usually do not expect normal business hours. There are 13 of these each year, sometimes supplemented by extra rest days to create 4-day long weekends.

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